Highland Bank Mortgage Rates, Fees & Info
St. Michael, MNLEI: 549300TN0C13QXN1P552
Tax ID: 41-0627744
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Mortgage Data
Review & Overview
Highland Bank is a smaller bank specializing in Refi loans. Highland Bank has a high proportion of conventional loans. Their top two markets are Minneapolis and Duluth .Highland Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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Originations
38Origination Dollar Volume (All Markets)
$6,930,000Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 37 | $6,885,000 | $186,081 | $0 | 0.00% |
| DULUTH, MN-WI (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 38 | $6,930,000 | $182,368 | $0 | 0.00% |
For 2019, Highland Bank's most frequently originated type of loan was Conventional, with 38 originations.
Loan Reason
For 2019, Highland Bank's most frequently cited loan purpose was Refi, with 19 originations. The 2nd most popular reason was Home Purchase, with 7 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 38 | $6,930,000 | $182,368 | $0 | 0.00% |
For 2019, Highland Bank's most frequently cited loan duration was Other, with 38 originations.
Loan Sizing
2019 saw Highland Bank place emphasis on $100,000 or less loans with 19 originations, totaling $865,000 in origination value.
Applicant Income
Highland Bank lent most frequently to those with incomes in the $50k or less range, with 8 originations. The second most popular income band? $100k-150k, with 7 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 38 | $6,930,000 | $182,368 | $0 | 0.00% |
Highland Bank lent most frequently to those with DTI ratios of Exempt%, with 38 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.24%
Highland Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination94.74%
Highland Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 38 | $6,930,000 | $182,368 |